This is to inform you that an unfortunate incident of the irregular arrest under section 69 of CGST Act, 2017 of Mr. Punit K. Popat, Promoter Director of the company, has been made by the CGST Department on Friday, January 7, 2022.
On the pretext that our company has availed inadmissible Input Tax Credit to the tune of 9.31 Crores and Director has been sent to the Judicial custody/remand for 15 days. The bail application is being moved in this regard. This is for your information that no offence conclusively proved against Mr. Punit K. Popat as well as against our company at present.
Application for Remand under judicial custody has been received by Directors relative on 8/01/2022 and same has been updated to us today. This clarification is without prejudice and the company humbly submits that it shall furnish any detailed clarification as and when it comes in possession of further cognet information in concerned issue at hand.